TAX DOCUMENT has the meaning specified in Clause 5.11(b).

TAX INDEMNITEE each of the following: (i) Owner,
 (ii) Beneficiary, (iii) Lessor, (iv) each
 Financing Party, (v) each security trustee
 or other Financing Parties' Representative,
 and

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 (vi) each shareholder, Subsidiary,
 Affiliate, beneficiary, member, director,
 officer, agent and employee of any of the
 Persons described in items (i) - (v).

TAX SAVING has the meaning specified in Clause 5.11(d).

TERM OR LEASE TERM the period commencing on the Delivery Date
 and ending on but excluding the next
 succeeding Annual Expiry Date or, if
 earlier, on the Final Expiry Date, provided
 that the Term shall be automatically renewed
 on each Annual Expiry Date for consecutive
 periods of one year's duration up until and
 including the Final Expiry Date, subject to
 the provisions of Clauses 11 and 13.2.

TRANSACTION DOCUMENTS this Agreement, the Participation Agreement,
 the Trust Agreement, the Aircraft Purchase
 Agreement, the Warranty Assignment, the Bill
 of Sale, the Acceptance Certificate, Lease
 Supplement No. 1, the Lessee Power of
 Attorney and the Copa Holdings Guarantee,
 and all documents, instruments and
 certificates delivered pursuant hereto or
 thereto.

TRUST AGREEMENT means the Trust Agreement dated the date
 hereof between Beneficiary, as trustor, and
 Wells Fargo Bank Northwest, N.A., as
 trustee.

UCC Uniform Commercial Code, as the same may be
 in effect in any applicable jurisdiction
 within the United States.